Dazhong Public Utilities (01635.HK) Hot Stock Analysis: Driven by Moor Threads' IPO Expectations

1. Stock Overview
   : Dazhong Public Utilities (01635.HK) belongs to the Utilities and Financial Venture Capital sectors, with a current price of HK$4.29 (midday on December 4, 2025) [1].
2. Upside Catalyst
   : Moor Threads will list on the STAR Market on December 5. Dazhong Public Utilities directly holds 10.8% of Shenzhen Venture Capital and has a total holding ratio of 13.93%, while Shenzhen Venture Capital is one of Moor Threads’ major investors. This IPO event has boosted Dazhong Public Utilities’ investment income expectations, becoming the core driving factor [1][5].
3. Price and Trading Volume
   : At midday on December 4, 2025, Dazhong Public Utilities rose 7.25% to HK$4.29, with a midday turnover of HK$278 million, significantly higher than the historical average, and market attention has increased sharply [1].
4. Market Sentiment
   : Dazhong Public Utilities (01635.HK) ranks 3rd in the Hong Kong Stock Connect holding ratio at 69.03%; its corresponding A-share target (600635.SH) hit the daily limit that day, further strengthening the market sentiment for the Hong Kong-listed target [2][3][4].

• Linkage Effect
  : The linked rise of A-share and Hong Kong-listed targets shows consistent expectations among investors in both markets regarding Moor Threads’ IPO event, reflecting market attention to related targets in the venture capital sector.
• Impact on Venture Capital Sector
  : As a well-known domestic venture capital institution, the listing of Shenzhen Venture Capital’s invested projects will have a direct impact on related shareholders and may trigger a short-term boom in the venture capital sector.

• Risks
  : This rise is mainly driven by news; if market expectations for the event are fully digested, the stock price may correct; the company’s investment income accounts for a relatively high proportion, and underperformance of Shenzhen Venture Capital’s projects will affect its performance; long-term liquidity is limited, and stock price volatility may be large.
• Opportunities
  : The performance of Moor Threads after listing may further affect Dazhong Public Utilities’ investment income; if the stock price performs strongly after listing, the company’s income expectations will rise.

Dazhong Public Utilities (01635.HK)‘s recent rise is mainly driven by expectations of Moor Threads’ IPO, with a significant increase in trading volume and positive market sentiment. Attention should be paid to the correction risk after the event is digested and the company’s performance dependence on investment income.